Kimbell Royalty Partners Acquires Permian Basin Mineral and Royalty Interests from Hatch Resources for $290M
October 1, 2022
Kimbell Royalty Partners (NYSE: KRP) agreed to acquire mineral and royalty interests from Austin-based Hatch Royalty LLC (Hatch Resources) in a cash-and-unit transaction valued at approximately $290 million ($150M cash and ~7.3M Kimbell units valued at $140M). The acquired Permian Basin assets (primarily Texas Delaware Basin) are estimated to produce ~2,072 Boe/d as of Oct 1, 2022 (projected ~2,522 Boe/d for 2023); the deal was approved by both parties and expected to close in Q4 2022.
- Buyers
- Kimbell Royalty Partners, LP
- Targets
- Hatch Royalty LLC (Hatch Resources)
- Sellers
- Hatch Royalty LLC, Ridgemont Equity Partners
- Industry
- Oil & Gas
- Location
- Texas, United States
- Transaction Type
- Divestiture
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